UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
Current Report Pursuant
To Section 13 or 15(d) of the
Securities Exchange Act of 1934
April 29, 2009
Date of report (Date of earliest event reported)
TOOTSIE ROLL INDUSTRIES, INC.
(Exact Name of Registrant as Specified in Its charter)
Virginia
(State or Other Jurisdiction of Incorporation)
001-01361
(Commission File Number)
22-1318955
(I.R.S. Employer Identification No.)
7401 South Cicero Avenue, Chicago, Illinois 60629
(Address of Principal Executive Offices) (Zip Code)
773-838-3400
(Registrant's Telephone Number, Including Area Code)
Not Applicable
(Former Name or Former Address, if Changed Since Last Report)
Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant under any of the
following provisions:
[__] Written communications pursuant to Rule 425 under the Securities Act
(17 CFR 230.425)
[__] Soliciting material pursuant to Rule 14a-12 under the Exchange Act
(17 CFR 240.14a-12)
[__] Pre-commencement communications pursuant to Rule 14d-2(b) under the
Exchange Act (17 CFR 240.14d-2(b))
[__] Pre-commencement communications pursuant to Rule 13e-4(c) under the
Exchange Act (17 CFR 240.13e-4(c))
ITEM 2.02. RESULTS OF OPERATIONS AND FINANCIAL CONDITION.
On April 29, 2009, Tootsie Roll Industries, Inc. issued a press release
(the "release") announcing its results of operations and financial condition for
the first quarter ended April 4, 2009. A copy of the release is attached
hereto as Exhibit 99.1 and incorporated herein by reference.
The information in the release and in this Item 2.02 is "furnished" and not
"filed" for purposes of Section 18 of the Securities and Exchange Act of 1934,
or otherwise subject to the liabilities of that section. Such information may
only be incorporated by reference in another filing under the Securities
Exchange Act of 1934 or the Securities Act of 1933 only if and to the extent
such subsequent filing specifically references such information.
Item 9.01. Financial Statements and Exhibits.
(c) The following exhibit is furnished with this report:
Exhibit 99.1 Press Release of Tootsie Roll Industries, Inc., dated
April 29, 2009.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the under-
signed thereunto duly authorized.
April 29, 2009 TOOTSIE ROLL INDUSTRIES, INC.
By: /S/G. HOWARD EMBER, JR.
G. Howard Ember, Jr.
Vice President/Finance and
Chief Financial Officer
EXHIBIT INDEX
Exhibit No. Description
99.1 Press Release of Tootsie Roll Industries, Inc., dated April 29, 2009.
Tootsie Roll Industries, Inc.
7401 South Cicero Avenue
Chicago, IL 60629
Phone 773/838-3400
Fax 773/838-3534
Press Release
STOCK TRADED: NYSE FOR IMMEDIATE RELEASE
TICKER SYMBOL: TR Wednesday, April 29, 2009
Chicago, ILLINOIS - April 29, 2009 - Melvin J. Gordon, Chairman, Tootsie Roll
Industries, Inc. reported first quarter 2009 net sales and net earnings.
First quarter 2009 net sales were $94,054,000 compared to $90,341,000 in first
quarter 2008, an increase of $3,713,000 or 4%. First quarter 2009 net earnings
were $8,320,000 compared to $6,453,000 in first quarter 2008, and net earnings
per share were $.15 and $.11 in first quarter 2009 and 2008, respectively, an
increase of $.04 per share or 36%. As the Company's quarterly financial
reporting is based on thirteen week periods, the first quarter of 2009 ended
on April 4, 2009 and benefited from three additional shipping days.
Mr. Gordon said, "First quarter 2009 net sales benefited from effective
marketing programs and selective price increases as well as the timing of the
comparative quarter end reporting periods. Although net sales increased in
first quarter 2009, such sales reflect declines in sales outside of the U.S.,
including the adverse effects of certain foreign sales that are translated into
a stronger U.S. dollar currency. The increase in first quarter 2009 net
earnings reflect the benefits of higher sales, selective price increases, lower
energy and fuel costs primarily relating to freight and delivery, a lower
effective income tax rate, and lower costs relating to products manufactured in
Canada due to more favorable foreign exchange rates. The Company's net earnings
per share for first quarter 2009 benefited from common stock purchases in the
open market resulting in fewer shares outstanding."
TOOTSIE ROLL INDUSTRIES, INC.
CONSOLIDATED SUMMARY OF NET SALES & NET EARNINGS
FOR THE PERIODS ENDED
APRIL 4, 2009 & MARCH 29, 2008
FIRST QUARTER ENDED
2009 2008
Net Product Sales $ 94,054,000 $ 90,341,000
Net Earnings $ 8,320,000 $ 6,453,000
Net Earnings Per Share * $ .15 $ .11
Average Shares Outstanding * 56,539,000 57,185,000
* Based on average shares outstanding adjusted for 3% stock dividends
distributed April 9, 2009 and April 10, 2008.